Listwand

Africa News, Culture And Rankings

Lagos Ranked Second Cheapest City To Live In The World

2 min read

Lagos is the second most cheapest city to live in the word, and the cheapest city to live in Africa, according to the Economist Intelligence Unit’s annual Cost of Living ranking, which was released on Thursday.

Lagos Ranked Second Cheapest City To Live In The World

The report examines the world’s most and least expensive cities by comparing factors such as wages and the prices of more than 150 items – including bread, wine, cigarettes and unleaded petrol.

The cost of living in each city is ranked in comparison with New York City, where New York receives an index score of 100 and one extra point equates to a 1 per cent increase in living costs. This is called the WCOL (World Cost of Living) Index.

The cost of living in Africa’s largest city (Lagos) is not as expensive as it was last year, according to the report. This year, Nigeria’s biggest city, Lagos, fell 16 places to 132nd place meaning the city is second most cheapest city to live in the world and the cheapest city to live in Africa followed by Algiers in Algeria.

“The relative cost of living in Lagos has more than halved since 2008, which might signal renewed interest from foreign investors, with price levels so low by international standards.” The Economist Intelligence Unit’s.

Coincidentally, the report also concluded that cheaper cities tend also to be less liveable. Which technically means Lagos is the most unlivable city in Africa.

See full list of cheapest cities below.

The ten cheapest cities in the world

Cheapest city in Africa

Source: The Economist Intelligence Unit

You May Also Like:   Tanzanian Authorities to Publish Names of Married Men to Protect Single Women from 'Unnecessary Heartbreaks'
Join the conversation.. Follow us on Facebook or Twitter So you don't miss out on our posts.

AD: Get a website today.. No advance payment needed. Website | Whatsapp | Call
Copyright © 2019 All rights reserved. | Managed by AWD.